Finance Your Pre-Owned Toyota to Save Money
Are you in the market for a new car? One that won’t break the bank? If so, Toyota of Grand Rapids has a wide selection of pre-owned Toyota brand vehicles for you to look at. Best of all, we can offer financing on these pre-owned vehicles so you can save money. There are many reasons why you should finance a pre-owned vehicle, all of which we describe below.
Why Should You Finance Your Pre-Owned Vehicle?
When you finance a vehicle, you are essentially creating monthly payments until it’s paid off. It’s a flexible option for anyone in the market for a new car, whether that car is brand-new or simply brand-new to them. As such, many benefits come along with financing a pre-owned vehicle. Here are the top three:
A Newer Car for Less Money
There’s a common misconception out there that pre-owned cars are old. While you may stumble upon some vintage vehicles now and again, many drivers are surprised to learn that pre-owned cars may only be a few years old. Remember, a pre-owned car doesn’t necessarily translate to an old car; it’s simply one that had another owner before. All brand-new cars depreciate the moment they drive off the lot. So if you get a car that’s only two or three years old, it’s still practically new; however, you’re not paying that brand-new price tag. In fact, you can save thousands of dollars when you opt for pre-owned vehicles.
Better Chance of Obtaining Financing
Regardless of the type of car you’re buying, most people don’t have tens of thousands of dollars lying around. As such, financing is used in most purchase transactions. With financing, as mentioned earlier, you will make monthly payments on your vehicle. However, the amount of interest and total monthly payment is determined by your credit score. If you have a poor credit history or no credit at all, it may be more difficult to get approved for higher car rates.
However, the lower the total cost of the vehicle, the easier it is to obtain financing. So if you’re in the process of rebuilding your credit, financing a pre-owned vehicle can not only help you purchase a vehicle, but those monthly on-time payments will increase your score over time, too. It’s a win-win!
Cheaper Insurance Costs
Let’s say you buy a brand-new vehicle that costs $40,000. When it comes time to get car insurance, the insurance company knows exactly how much the car is worth: $40,000. They will adjust your monthly insurance rate accordingly. However, that’s not so simple when you buy pre-owned. Unless you purchase a certified pre-owned car, it’s sometimes impossible to truly know the history of the vehicle, and by proxy, its value. Since the insurance company can’t put an exact value on the car, your monthly costs will be lower.
Of course, this isn’t an exclusive list of all the benefits of financing a pre-owned car, but they are the top ones that wind up saving you money in the long run.
How to Apply for Financing Online
If everything sounds good and you’re ready to apply for financing, doing so is incredibly simple. Just visit our homepage and at the top of the page, click on “Finance.” From there, click on “Online Finance Application.”
Once you’re on this page, fill out your contact info, housing status, income, and type of car you’re interested in. Don’t worry, you can always change this later on. Filling this out is just used for us to gauge what amount of financing you’re likely to get approved for.
After you apply, bring the amount you’re approved for to the dealership and we’ll match you up with a vehicle that suits your budget, lifestyle needs, and style preference.
Ready to Save Money? Buy a Pre-Owned Car from Toyota of Grand Rapids and Have More Money in Your Pocket Every Month!
There are several benefits to buying a pre-owned Toyota. With so many financing options available at Toyota of Grand Rapids, we can get you behind the wheel of your dream car, whether it’s a Toyota Corolla or a Toyota Sienna. Getting approved for financing is easy. To do it on our website, all you have to do is fill out and submit our secure online finance application. However, if you prefer to do it in person, that’s great, too! Just stop by our finance department and get started.
You don’t need to have great credit or a lot of money to get a stylish or reliable car. Just visit Toyota of Grand Rapids. We’re located at 2555 28th St Southeast, Grand Rapids, MI 49512.